Sonida Senior Living Inc Stock Price, News & Analysis

Sonida Senior Living reported its Q3 2024 results, showing significant portfolio expansion and performance improvements. The company's same-store weighted average occupancy increased 210 basis points to 87.0% year-over-year. Q3 2024 revenue increased 6.6% to $66.9 million, while net loss improved to $13.8 million from $18.4 million in Q3 2023. Adjusted EBITDA grew 8.7% to $10.1 million. The company expanded its portfolio by 30% in six months through acquisitions and management agreements, including 19 senior living communities. In August 2024, Sonida raised $130.4 million through a common equity offering and secured a $150 million credit facility.

Sonida Senior Living (NYSE: SNDA) has completed two significant transactions: the acquisition of two senior living communities in Atlanta for $29.0 million and the discounted payoff of two mortgage loans. The newly acquired properties, located in Lawrenceville and Peachtree Corners, have an average asset age of 5 years and 86% occupancy, featuring 178 units of Assisted Living and Memory Care facilities. The purchase price represents $163,000 per unit. Additionally, the company executed a discounted payoff of $28.7 million in loans for $18.5 million, achieving a 36% discount. These transactions bring Sonida's year-to-date acquisitions to 19 properties, expanding their total portfolio to 93 communities.

Sonida Senior Living (NYSE: SNDA) has scheduled its third quarter 2024 earnings release for Wednesday, November 13, 2024, before market opening. The company will host a conference call and webcast at 11:00 a.m. Eastern Time to discuss financial performance and operating results. Investors can join via phone at (800) 715-9871 (international: +1 (646) 307-1963) using passcode 4619110. A webcast replay will be available on Sonida's IR website for 12 months, while a telephonic replay will be accessible for 7 days.

Sonida Senior Living (NYSE: SNDA) announced the appointment of Tabitha Bailey as senior vice president and chief legal officer, effective January 1, 2025. Bailey will succeed David Brickman, who is stepping down after 32 years with the company. Brickman will provide consulting services from January to June 2025 to ensure a smooth transition. Bailey, previously chief legal officer at Avantax, brings extensive experience in M&A and public company transactions, having led a $1.2B take-private merger. She will oversee all legal matters and support Sonida's growth strategy to expand its senior living portfolio.

Sonida Senior Living (NYSE: SNDA) has completed several strategic moves to expand its portfolio and financial capacity:

1. Acquired 8 senior living communities in the Southeast for $102.9 million, adding 555 units.

2. Signed an agreement to acquire 2 properties in Atlanta, GA for $29 million, adding 178 units.

3. Increased its revolving credit facility by $75 million to a total of $150 million.

These acquisitions bring Sonida's total operating portfolio to 91 communities, focusing on geographic densification in attractive markets. The newly acquired properties have favorable occupancy rates and RevPOR, with significant discounts to estimated replacement costs. The expanded credit facility provides additional financial flexibility for future growth.

Sonida Senior Living (NYSE: SNDA) announced its participation in the BofA Securities 2024 Global Real Estate Conference on September 12, 2024, at the Bank of America Tower in New York. Brandon Ribar, President and CEO, and Max Levy, Chief Investment Officer, will represent the company. The conference, hosted by BofA Global Research, features roundtable discussions, thematic panels on industry trends, and one-on-one meetings with over 140 global issuers.

Sonida, a leading owner, operator, and investor in senior living communities and services, will be available for one-on-one meetings during the event. Interested parties can schedule meetings through their bank representatives. This participation highlights Sonida's engagement with the investment community and its position in the senior living sector.

Sonida Senior Living (NYSE: SNDA) has announced significant capital market activities and pending acquisitions:

• Pending acquisition of eight senior living communities for $102.9 million, expanding its portfolio to 91 communities
• Raised $130.4 million through a public offering of common stock
• Secured a $150 million commitment on a new senior secured revolving credit facility
• Entered into loan modification agreements for two Texas properties with a discounted payoff option

These moves aim to support Sonida's growth strategy, capitalize on favorable senior housing trends, and create value for shareholders. The pending acquisition will densify Sonida's presence in the Southeast, with communities in Florida and South Carolina.

Sonida Senior Living (NYSE: SNDA) has priced an upsized public offering of 4,300,000 shares of common stock at $27.00 per share. The offering, initially set for 4,000,000 shares, includes a 30-day option for underwriters to purchase up to 645,000 additional shares. Closing is expected on August 19, 2024. Sonida plans to use $102.9 million of the net proceeds to fund the acquisition of eight senior living communities, with the remainder allocated for general corporate purposes. Morgan Stanley, RBC Capital Markets, and BMO Capital Markets are acting as joint lead book-running managers for the offering, which is being made through a prospectus supplement and base prospectus filed with the SEC.

Sonida Senior Living (NYSE: SNDA) has announced a public offering of 4,000,000 shares of its common stock, with an option for underwriters to purchase an additional 600,000 shares. The company plans to use $102.9 million of the net proceeds to fund the acquisition of eight senior living communities and for general corporate purposes. Morgan Stanley, RBC Capital Markets, and BMO Capital Markets are acting as joint lead book-running managers for the offering.

The offering is being made through a prospectus supplement and base prospectus, which are part of an effective shelf registration statement filed with the SEC. Interested parties can obtain the preliminary prospectus supplement and accompanying base prospectus from the SEC's website or the offices of the joint lead book-running managers.